Section 1002.104 - Covered credit transactions and excluded transactions(a)Covered credit transaction means an extension of business credit that is not an excluded transaction under paragraph (b) of this section.(b)Excluded transactions. The requirements of this subpart do not apply to: (1)Trade credit. A financing arrangement wherein a business acquires goods or services from another business without making immediate payment in full to the business providing the goods or services.(2)Home Mortgage Disclosure Act (HMDA)-reportable transactions. A covered loan, or application therefor, as defined by Regulation C, 12 CFR 1003.2(e) .(3)Insurance premium financing. A financing arrangement wherein a business agrees to pay to a financial institution, in installments, the principal amount advanced by the financial institution to an insurer or insurance producer in payment of premium on the business's insurance contract or contracts, plus charges, and, as security for repayment, the business assigns to the financial institution certain rights, obligations, and/or considerations (such as the unearned premiums, accrued dividends, or loss payments) in its insurance contract or contracts. Insurance premium financing does not include the financing of insurance policy premiums obtained in connection with the financing of goods and services.(4)Public utilities credit. Public utilities credit as defined in § 1002.3(a)(1) .(5)Securities credit. Securities credit as defined in § 1002.3(b)(1) .(6)Incidental credit. Incidental credit as defined in § 1002.3(c)(1) , but without regard to whether the credit is consumer credit, as defined in § 1002.2(h) .